#5
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Re: Sub Prime Lenders
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Kudlow was talking about the star-box (prob. not right name, meh.). [/ QUOTE ] Sar-Box, short for Sarbanes-Oxley, the laws passed post enron to essentially tighten financial reporting requirements for public U.S. companies. Wall Street is complaining those requirements are overkill, and are leading to more companies going public overseas. I'm sympathetic to that argument, given that some of it's provisions act as a full employment act for accounting firms and are leading to more small companies going back to being private. Another point is that all the succcessful prosecutions of Enron, Worldcom, etc figures took place without Sarbanes-Oxley being in existence. |
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